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Home Publications Blogs Beat the Press NYT Gives the European Austerity Crew Short Shrift

NYT Gives the European Austerity Crew Short Shrift

Tuesday, 02 April 2013 05:16

The austerity gang who are trying to wreck Europe's economy must be furious at the NYT. They managed to get the unemployment rate up to 12.0 percent, a truly historic achievement. Europe had not seen unemployment reach this level since the Great Depression, more than 70 years ago.

However in its article reporting on the new data, NYT told readers:

"The European labor market has now declined for 22 straight months, making this the worst downturn since the early 1990s, Jennifer McKeown, an economist in London with Capital Economics, wrote in a note."

Come on, unemployment in the euro zone countries peaked at 10.9 percent in 1994. That downturn can't come close to the damage done by the current austerity crew. I trust that they will demand a correction from the NYT.

Comments (3)Add Comment
Dean Baker and others
written by JaaaaayCeeeee, April 03, 2013 2:06
The world should demand you, Krugman, Thoma, DeLong et al rule it. The number of suicides you prevent has got to be immense.
UK Austerity
written by JP, April 03, 2013 7:29
In the ongoing assault on the weakest, the UK gov is hitting a new low with their elimination of what they call the "bedroom subsidy."
The austerity gang won't be happy until the disabled are living in pup tents. Their media has chaught onto the catchy phrase "strivers vs skivers" to get public support in their attempt to demonize the recipients. In the US, that phrase is too obscure. The media will probably push something simpler, like "workers vs. shirkers" to garner public support for the war on welfare.
I see shades of the same sentiments in the proposed Chained CPI goals on this side of the Atlantic. "Ya'll are eating entirely too well!
more dean comedy
written by fogspider, April 03, 2013 11:09
"I trust that they will demand a correction from the NYT."

keep at it, dean baker. always informative, and amusing too. a david against multiple $ goliaths.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.